Okada Manila boosts Tiger Resorts revenues by 62%

Tiger Resort Leisure and Entertainment Inc. (TRLEI), the operator of integrated casino hotel Okada Manila, reported a 62 percent surge in total revenues to P24.82 billion in the first half of 2023 from the P15.36 billion posted in the same period last year.

In a statement, the firm said this was mainly driven by the strong performance of its casino business, with gross gaming revenues reaching P22.86 billion, a 60 percent jump from P14.32 billion the year prior.

In the same comparative periods, VIP wins stood at P8.94 billion, a 54 percent growth from P5.79 billion.

Mass table games win rose by a faster 58 percent to P5.89 billion from P3.72 million, while gaming machines win grew by 60 percent to P7.70 billion from P4.81 billion.

Non-gaming revenues — comprising hotel operations, food and beverage, retail, and entertainment services and other ancillary services — also soared by 89 percent to P1.95 billion from P1.04 billion.

“We continuously see a strong rebound in demand for gaming, leisure, and entertainment. We are confident that the market will continue to recover throughout the year and we anticipate a healthy top line by the end of 2023,” TRLEI President Byron Yip said.

Since February 2022, Okada Manila has been operating at full capacity, reopening the integrated casino resort to the public after two years of partial operations due to the pandemic.

With the strong growth in revenues, TRLEI said Okada Manila has helped in driving the revenues of the Philippine Amusement and Gaming Corporation in the first two quarters of 2023.

“We are eager to sustain the growth momentum for the rest of the year, as we continue to strengthen Okada Manila’s operations. We are one with the government in helping the industry recover and expand faster in the coming years,” Yip said.

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The article was originally published in Manila Bulletin and written by James A. Loyola.